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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating Activities      
Net income $ 291,703 $ 262,290 $ 313,404
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization 109,297 103,248 69,795
Stock-based compensation expense 25,315 21,287 20,813
Deferred income taxes (5,299) (67,423) (10,228)
Loss on disposal of property, plant and equipment 898 1,907 232
Changes in operating assets and liabilities, net of acquisitions      
Accounts receivable and unbilled accounts receivable (54,611) (68,676) 19,728
Inventories (108,883) (8,955) 45,340
Accounts payable 48,763 (91,722) (18,932)
Accrued income taxes 7,880 47,644 (11,759)
Accrued liabilities and customer deposits 31,744 (18,891) (11,338)
Other assets and liabilities (32,136) 8,102 33,475
Net cash provided by operating activities 314,671 188,811 450,530
Investing Activities      
Purchase of property, plant and equipment (93,305) (89,466) (50,216)
Proceeds from disposal of property, plant and equipment 11,293 1,291 363
Acquisitions of business, net of cash acquired (51,153) (945,299) (183,113)
Other (14,122) 0 0
Net cash used for investing activities (147,287) (1,033,474) (232,966)
Financing Activities      
Proceeds from debt, net of issuance costs 3,480,702 1,216,740 1,875,000
Payments of debt (1,453,954) (1,269,537) (1,102,748)
Stock re-purchase 0 0 (212,176)
Proceeds from exercise of stock options and other benefit plans 9,962 4,428 1,983
Payment of income tax withholding on share-based compensation (12,322) (6,844) (6,658)
Cash dividends (46,277) (42,218) (32,430)
Net cash provided by (used for) financing activities 1,978,111 (97,431) 522,971
Effect of changes in currency exchange rates (36,542) 32,263 (26,436)
Increase (decrease) in cash 2,108,953 (909,831) 714,099
Cash, cash equivalents and restricted cash, beginning of year 233,401 1,143,232 429,133
Cash, cash equivalents and restricted cash, end of year $ 2,342,354 $ 233,401 $ 1,143,232